Strictly Confidennot Not for Olsniburlon. avw,dadmvesron Only Fund Profile i 2019 GTIS Qualified Opportunity Zone Fund %10.07F" GTIS Partners LP Examples of Prior Investments in Opportunity Zones Boulder Mixed-Use Vegas Corporate Park Phoenix Residential Total Deal Size: $109M GT15 Commitment: $26.5M Closing Dote: lune 2015 Projected Gross !RR: 18%m Projected Multiple: 2.0xm Total Deal Size: GTIS Commitment: Closing Dote: Realized Gross MR: Project Overview • Mixed-use project comprised of 242 multi-family units and 135,500 NSF of Class A office in Boulder, CO • Project broke ground in September 2018 and construction is projected to be completed over a 31 month period • Experienced development partner with prior GTIS commitments • GMP and developer budget guarantee in place • Office portion pre-sold to Google with a substantial upfront deposit $150M $14.3M March 2006 73.2% Realized Multiple: 2.03x Total Deal Size: $48.3M GM Commitment: $43.6M Closing Dote: Oct 2012 Projected Gross IRR: 14.5%m Projected Multiple: 2.23x0) Project Overview • Acquisition of nine office and warehouse properties and development parcels in a corporate park adjacent to Las Vegas McCarran Intl. Airport • Acquired significantly below replacement cost • Leased nearly 140,000sf of space within four months of closing, mostly to investment-grade credit tenants • Sold leased properties at 44% above purchase price Project Overview • GTIS acquired the Cadence master plan in partnership with Harvard Investments in 2012, and is currently developing the infrastructure needed to support a community of over 2,500 residential units • Designed for 2,080 single family lots, 350+ multifamily units, and 51 acres of commercial space • All ten parcels in Phase 1 sold to national and regional homebuilders with plans to build and sell single-family homes • Potential to separate remaining single-family rental and commercial parcels in the master plan into a